Uber Technologies (NYSE:UBER) Stock Price Up 1.6% - Time to Buy?

Key Points

• Uber's stock price increased by 1.6%, last trading at $99.32, with a market cap of $207.12 billion.
• Analysts maintain a positive outlook for Uber, with an average rating of "Moderate Buy" and a consensus price target of $104.03.
• The company reported $0.63 EPS in its last quarterly earnings, exceeding expectations, with revenue up 18.2% year-over-year.

Uber Technologies, Inc. (NYSE:UBER - Get Free Report)'s share price rose 1.6% on Wednesday . The company traded as high as $99.61 and last traded at $99.32. Approximately 10,015,329 shares were traded during mid-day trading, a decline of 53% from the average daily volume of 21,186,916 shares. The stock had previously closed at $97.80.

Wall Street Analysts Forecast Growth

UBER has been the subject of several research reports. Cantor Fitzgerald reiterated an "overweight" rating and issued a $106.00 target price (up previously from $96.00) on shares of Uber Technologies in a research note on Wednesday, June 25th. Cowen restated a "buy" rating on shares of Uber Technologies in a research report on Thursday, August 7th. Raymond James Financial upped their target price on Uber Technologies from $100.00 to $105.00 and gave the company a "strong-buy" rating in a research note on Thursday, August 7th. Weiss Ratings restated a "buy (b)" rating on shares of Uber Technologies in a research note on Saturday, September 27th. Finally, Piper Sandler upped their target price on Uber Technologies from $95.00 to $103.00 and gave the company an "overweight" rating in a research note on Thursday, July 24th. Two analysts have rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and ten have assigned a Hold rating to the stock. According to MarketBeat, Uber Technologies currently has an average rating of "Moderate Buy" and a consensus price target of $104.03.

Uber Technologies Stock Up 1.6%

The firm has a market cap of $207.12 billion, a price-to-earnings ratio of 16.92 and a beta of 1.48. The business's 50-day moving average is $94.33 and its 200-day moving average is $87.47. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.11 and a current ratio of 1.11.

Uber Technologies (NYSE:UBER - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The ride-sharing company reported $0.63 earnings per share for the quarter, topping the consensus estimate of $0.61 by $0.02. The company had revenue of $12.65 billion during the quarter, compared to analyst estimates of $12.45 billion. Uber Technologies had a net margin of 26.68% and a return on equity of 59.96%. The company's revenue was up 18.2% on a year-over-year basis. During the same quarter last year, the business posted $0.47 earnings per share. On average, equities analysts predict that Uber Technologies, Inc. will post 2.54 EPS for the current year.

Insider Activity at Uber Technologies

In other Uber Technologies news, SVP Nikki Krishnamurthy sold 11,571 shares of the stock in a transaction dated Friday, August 15th. The shares were sold at an average price of $91.74, for a total transaction of $1,061,523.54. Following the sale, the senior vice president owned 416,222 shares of the company's stock, valued at $38,184,206.28. This represents a 2.70% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Jill Hazelbaker sold 31,250 shares of the stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $96.42, for a total transaction of $3,013,125.00. Following the sale, the insider directly owned 86,531 shares in the company, valued at approximately $8,343,319.02. This represents a 26.53% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 601,821 shares of company stock valued at $58,659,491. 3.70% of the stock is currently owned by company insiders.

Institutional Trading of Uber Technologies

Several hedge funds have recently modified their holdings of UBER. Kilter Group LLC bought a new position in Uber Technologies in the second quarter valued at about $26,000. Kozak & Associates Inc. boosted its stake in shares of Uber Technologies by 155.9% in the 1st quarter. Kozak & Associates Inc. now owns 366 shares of the ride-sharing company's stock valued at $27,000 after purchasing an additional 223 shares during the last quarter. Noble Wealth Management PBC bought a new position in shares of Uber Technologies in the 1st quarter valued at about $27,000. Vision Financial Markets LLC bought a new position in shares of Uber Technologies in the 1st quarter valued at about $27,000. Finally, West Oak Capital LLC bought a new position in shares of Uber Technologies in the 2nd quarter valued at about $28,000. 80.24% of the stock is owned by institutional investors.

Uber Technologies Company Profile

Uber Technologies, Inc develops and operates proprietary technology applications in the United States, Canada, Latin America, Europe, the Middle East, Africa, and Asia excluding China and Southeast Asia. It operates through three segments: Mobility, Delivery, and Freight. The Mobility segment connects consumers with a range of transportation modalities, such as ridesharing, carsharing, micromobility, rentals, public transit, taxis, and other modalities; and offers riders in a variety of vehicle types, as well as financial partnerships products and advertising services.

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